Palantir Stock May Still Be Undervalued According To This Wall Street Pro

Despite the current 5% drop, Palantir remains the best performer in the S&P 500, with a staggering 337% gain in 2024, showcasing its appeal amidst high valuation concerns.

Palantir’s surge mirrors Nvidia’s explosive rise, positioning its Palantir AI Platform as potentially disruptive. However, justifying its stock multiples remains challenging given slower sales growth.

Palantir has become a central topic on platforms like r/WallStreetBets, indicating a blend of enthusiasm and speculative investment, similar to trends seen with meme stocks.

Analysts, including Dan Ives, believe that AI's momentum could propel Palantir’s stock even higher, suggesting a bright outlook despite recent volatility.

Read at 24/7 Wall St.